🛡️ DeFi Sector Vulnerability: How Do Investors Face Fraud?
Blockchain researcher ZachXBT uncovered a string of scams targeting crypto investors, including Leaper Finance and other projects like Magnate, Kokomo, Solfire, and Lendora. These fraudsters operate across various blockchains, luring victims with promises of high returns before disappearing with millions of dollars.
🌐 Disappearance of Fraudulent Projects: Following the investigation, Leaper Finance and Glori Finance vanished from the internet, leaving investors empty-handed. ZachXBT traced stolen funds to wallets providing liquidity for multiple projects on Base, Solana, and other blockchains.
🔍 Phishing Scams Surge: Base saw an 18-fold increase in cryptocurrency stolen through phishing scams in March. Ethereum remains the most targeted blockchain for fraud, with security experts warning of ongoing vulnerabilities across DeFi platforms.
💼 Crypto Exchanges Enhance Security: In response to rising phishing attacks, exchanges like Coinbase and Binance recommend using YubiKey devices for added security. Choosing a secure exchange like WhiteBIT, known for its high ratings in cybersecurity, is crucial to safeguarding crypto assets.
